Sears sells Craftsman brand to Stanley in deal that could top $1 billion

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The Chicago Tribune’s Lauren Zumbach writes: “Sears Holdings will sell its well-known Craftsman tools brand to Stanley Black & Decker, the latest in a recent flurry of moves the retailer is making to generate cash…”

“Craftsman still accounted for the largest share of the hand tools and accessories market by dollar share as of September, with about 26.6 percent, and accounts for about 8.3 percent of portable power tool sales, according to Stevenson TraQline, a market research firm.”

“…Craftasman’s appeal might be slightly stronger with older customers who remember it from decades ago, when the Sears catalog’s role was similar to that of e-commerce today…”

Read the full article at the Chicago Tribune